Elvis Presley's custom-built white Cadillac is being auctioned live on the internet. The 1974 car with the licence plate ELVIS has a reserve price of $60,000, the equivalent of £41,000. Other items in the auction include a signed cowboy hat worn by Madonna, a Trabant car signed by U2, and a Fender Stratocaster used by Jimi Hendrix. The reserve price on Madonna's cowboy hat is £1,400, and bids for the Trabant are set to start at £2,800. A reserve price of $500,000 - £343,000 - has been placed on Hendrix's guitar. The Rock Legends online pop and rock memorabilia auction, which is being run by Ebay, starts on Saturday June 1. Guitars owned by Bob Dylan and Eddie Van Halen are also up for grabs in the live auction, which is being held in Las Vegas.
Source: Ananova / Updated: May 31, 2002